Venari Minerals (ASX:VMS) has reported assay results from three additional holes of the 13-hole reverse circulation drilling campaign at the wholly-owned Red Mountain Lithium Project in Nevada, US.
The latest results come from holes in the north of the project area and reveal similar mineralisation to previous holes in the area, with ‘high grade’ zones over 2,000 parts per million (ppm) lithium, within broad mineralised zones between 41.1m and 89.9m.
The company highlights drill hole RMRC015 that has intersected 91.4m of lithium mineralisation including 27.4m at 2,160ppm lithium from 57.9m including 6.1m at 3,550ppm lithium from 73.2m and 6.1m at 1,290ppm lithium from 111.3m.
Chairman Tony Leibowitz says that the assays are delivering “outstanding results” with the current batch confirming high-grade lithium mineralisation.
“These results bode well for the forthcoming delivery of a maiden mineral resource for Red Mountain, which will mark a significant milestone for the company,” Leibowitz says.
“Final assays from the October drilling are expected within the next two weeks, after which the company can progress the maiden resource estimate.”
Venari Minerals is progressing critical minerals and precious metals projects in Nevada, US.
Write to Amy Rotman at Mining.com.au
Images: Venari Minerals
